Turnpike theorem for a class of differential inclusions arising in economic dynamics (Q4372873)
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scientific article; zbMATH DE number 1097689
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| English | Turnpike theorem for a class of differential inclusions arising in economic dynamics |
scientific article; zbMATH DE number 1097689 |
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Turnpike theorem for a class of differential inclusions arising in economic dynamics (English)
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12 October 1999
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differential inclusions
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set-valued functions
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superlinear normal mapping
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equilibrium state
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turnpike property
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0.9073454
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0.90577346
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0.8988606
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0.8967298
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0.89043945
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0.8855023
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The paper is devoted to the study of asymptotic behavior of trajectories to a differential inclusion \(\dot x (t) \in b(x(t)) -x(t)\) with \(b(x)\) being a superlinear set-valued map. The motivations for the above model to be studied may be found in economic dynamics. The author establishes the turnpike property for a wider class of superlinear mappings (without the assumption of the strict convexity of their graphs). For a space of superlinear mappings describing continuous multisector models the existence of an open everywhere dense subset \(E\) of mappings with turnpike property is also proved. The main result is the generalization of previous investigations of the author [Optimization 19, No. 3, 427-441 (1988; Zbl 0645.90010)].
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